The Kenya Revenue Authority (KRA) collected Sh155 billion in tax revenue in July 2023, an increase of 18.7 per cent compared to the amount collected in July 2022.
This is as a result of the introduction of new tax measures provided for in the Finance Act, 2023.
The National Treasury has also begun preparing the budget for the 2024-25 financial year.
This comes with the announcement that planned domestic borrowing for the current financial year has been revised further downwards to just Sh305 billion from the Sh587 billion planned when the budget was presented in June.
In addition, the government has revised upwards the total revenue target for the current financial year by Sh16 billion to cross the Sh3 trillion mark.